UPDATE 2-Morgan Stanley commodity results worst since 1995

NEW YORK Jan 18 Morgan Stanley said on Friday its fourth
quarter commodities results were the worst in nearly two decades, joining arch
rival Goldman Sachs in singling out the sector for a particularly weak
performance during the quarter.

"Commodities results declined meaningfully in a challenging market," the
Wall Street bank said in a statement accompanying its results.

Morgan Stanley Chief Executive James Gorman told a conference call that
commodities trading posted their worst results since 1995 in the fourth quarter.

Morgan Stanley's Value-at-Risk (VaR) in commodities stood at $22 million in
the fourth quarter, unchanged from the previous three months but down from $26
million in the 2011 fourth quarter.

Earlier in the week, Goldman had reported "significantly lower" net revenues
from commodities for the quarter.

Goldman said its commodities VaR fell to $20 million in the fourth quarter,
from $22 million in the third quarter and from $26 million a year ago.

JPMorgan Chase & Co, a rival to Morgan Stanley and Goldman, said its
commodities VaR stood at $14 million in the fourth quarter compared with $13
million in the third quarter and $20 million in the fourth quarter of 2011.

Next In Oil report

WASHINGTON, Dec 9 The U.S. Agriculture
Department left its domestic supply estimates for corn, soybeans
and wheat unchanged on Friday, holding usage forecasts for all
three commodities steady with its November outlook.

WASHINGTON, Dec 9 The U.S. Agriculture
Department left its domestic supply estimates for corn, soybeans
and wheat unchanged on Friday, holding usage forecasts for all
three commodities steady with its November outlook.

SOFIA, Dec 9 Bulgaria plans to spend about 1.5
billion levs ($808.63 million)on eight new or second-hand jet
fighters and has asked Italy, Portugal, the United States and
Sweden to make offers to supply them, the defence ministry said
on Friday.

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